Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Operations and Comprehensive Loss

v3.25.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenues:    
Total revenues, net $ 441,000 $ 1,924,000
Operating expenses:    
Cost of product sales (366,000) 1,284,000
Research and development 24,437,000 13,784,000
Acquired in-process research and development 27,641,000 0
General and administrative 17,241,000 10,300,000
Goodwill impairment 0 3,907,000
Total operating expenses 68,953,000 29,275,000
Loss from operations (68,512,000) (27,351,000)
Other income (expense):    
Excess of initial warrant fair value over private placement proceeds (79,276,000) 0
Change in fair value of warrant liability 121,611,000 0
Private placement transaction costs (9,220,000) 0
Change in fair value of derivative liability (2,930,000) (720,000)
Interest income (expense), net 3,317,000 (3,417,000)
Other expense, net (5,000) (42,000)
Total other income (expense), net 33,497,000 (4,179,000)
Loss before income taxes (35,015,000) (31,530,000)
Income tax expense 114,000 14,000
Net loss $ (35,129,000) $ (31,544,000)
Net loss per share of common stock:    
Basic (in dollars per share) $ (7.94) $ (113.58)
Diluted (in dollars per share) $ (20.91) $ (113.58)
Product revenue, net    
Revenues:    
Total revenues, net $ 441,000 $ 1,408,000
License and other revenue    
Revenues:    
Total revenues, net $ 0 $ 516,000